Funds are all the way up to 4.5% cash as of last week. And at the rate they were going, they could be getting close to 5%. That's a lot of fuel built up that could be poured on a rally if one got moving. I would not discount that.
Maybe it just continues to sit on the sidelines and accumulates, but it certainly shifts the center of gravity and changes the probabilities and risk-reward scenarios of being long vs. short.
Futes up almost 12, if Asia keeps even just 75% of their gain, we could have an explosive run tomorrow. I am ready, cash at a more "normal" 18% for a very bullish stance, mostly due to the loss to stop losses of a triple GENZ position and cutting gold to just 2%....If they give me some Q's early on and maybe few semi, I might be able to reduce cash to the 10% level before the market open....
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